Is RV Insurance Required?
If you just purchased or are considering purchasing a recreational vehicle (RV), you may be wondering if insurance is a requirement. In many states, you’re only required to carry bodily injury and property damage liability on your motorhome. Travel trailers are a different story. Because they’re not motorized, insurance is optional. However, if you’re financing your motorhome or travel trailer, your lender will typically require you to carry physical damage coverages.
Recreational Vehicle or RV insurance provides protection if you cause injuries or damages to others and can also cover the cost of damages to your vehicle in the event of a covered loss. RV insurance is very similar to your traditional auto policy but includes special coverages for the roof, pest protection, RV towing and contents. Coverages will vary depending on how your vehicle is operated – if you’re driving a motorhome, you’ll need separate liability coverage to stay on the road, but if you’re pulling a travel trailer, you will not need separate liability insurance because it’s transferred from your auto insurance policy while towing your travel trailer.
The most important aspects of your RV insurance policy will be determined by how you use the RV – recreationally or as a full time residence. Coverages also vary depending on how the vehicle is operated.
RV insurance is generally divided into two categories: recreational and full-timer’s. If you don’t live in your RV full-time, recreational insurance will cover your RV inside and out when you’re on the road or parked at a campsite. A full-time RV insurance policy is for those who use a motorhome or travel trailer as their primary residence. Many of the coverages will match up with a recreational policy, but you’ll be able to add coverages similar to homeowners insurance, such as personal liability and loss assessment.